Four-wheelers are a mix of comfort, leisure and safety. But the sky-high price in India after the pandemic hit keeps consumers away from even entry-level cars. This is mainly due to the blow on the ‘income sentiment’ in the last couple of years. But are you still dreaming of a brand-new vehicle? Well, it is one of the most exciting chapters of your life and deserves a seamless experience. Apply for a personal loan instead of putting off your wish!
It can be converted into a car loan and does not require collateral. Plenty of perks and features like quick disbursal, minimal eligibility and flexible EMIs make it quite lucrative. A car is more a necessity rather than a luxury now. So don’t hold on to the one you’re eyeing. Instead, learn how to fund it comfortably to get started.
Car Purchase with Fintech Loans
You’ll be pleasantly surprised that the process is 100% online. It relieves you from tedious paperwork or physical visits. Car aspirants may borrow up to ₹4,00,000, which can be paid back via pocket-friendly monthly instalments. Choose a tenure of 90, 180, 270, 365 or 540 days per your financial abilities. Picking the right amount and suitable term can speed up the loan process and help you grab deals and discounts if any.
Know that the loan can also opt for a second-hand car with repayment via auto-debit, NEFT/IMPS. Top-up on the existing loan is also available if you wish to expand the budget for a Fortuner or a Creta. Get the quick loan app from the Play Store or App Store to be able to apply and track the loan status.
Things to Remember Before Taking a Loan
An excellent digital lender offers a wide variety of plans. Talk to an expert and pick your financial ability and existing life goals. It can help you avoid a flagged account due to delays. A successful application requires you to tick off a few necessities. For instance:
- Present the correct and complete documents to avoid delays.
- A good SLQ score increases your chances of securing a loan.
- Good payment history to show you are a credible borrower.
- Minimum salary of ₹15,000 as a salaried Indian millennial.
- Create a valid FB or LinkedIn Account.
Conclusion
Ensure a good credit score between 670 to 739 to boost your approval chances. Learn about the associated fees and charges for end-to-end transparency. You may also plan for the expenses since these have to be paid from your pocket. Keep the quick loan app handy to be able to apply without leaving your couch!
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